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Here's Why Cyclacel Pharmaceuticals (CYCC) Stock Is Surging Today

NEW YORK (TheStreet) -- Shares of Cyclacel Pharmaceuticals (CYCC) were skyrocketing 35.93% to $9.42 on heavy trading volume early Monday afternoon as Tang Capital Partners reported a stake in the company.

Late Friday, Tang Capital disclosed a 9.6% passive stake in the biopharmaceutical company as of August 12, according to a regulatory filing.